TV Monaco - Interview with Florian Valeri on the prime



Find out what our agency director Florian Valeri said on TVMonaco's prime programme on 22 April at 7pm in a short interview about the results of the Monegasque residential property market in 2023. In this overall market review, we take a brief look at prices per square metre in the various districts, the average resale price, and current and future trends.


Watch the replay of Episode 100 of 22 April - Minute 9' by following this link: 


Despite a 20% drop in transactions compared to 2022, the overall amount is the 2nd highest ever recorded after last year's record, with a total of €3.2 billion in 2023. This excellent result can be seen in the price per sqm in the Principality, which has stabilised at a price that is still one of the most expensive in the world, at €51,418, and at an average price for the purchase of a flat of around €5.5 million.


We also look at the disparity between the prices per square metre in the different districts, with entry tickets ranging from around €25,000 to €30,000 for flats under the 1235 law in the Plati district, to flats reaching €100,000 per sqm in new luxury residences. Despite this continuing disparity, this is the first time that all the districts have reached the average price of €40,000/sqm! The Jardin Exotique and Moneghettis districts are becoming increasingly popular, thanks to their tranquillity compared with the city centre, the beautiful views from some of the buildings and the gradual modernisation of the property stock, with prices per square metre rising by around 15%. At the same time, Larvotto remains the most expensive and sought-after district for UHNWI clientele, despite the low supply of flats for sale, with an average price of €65,857/sqm.


2023 confirms the real estate trends observed over the last few years, with a modernisation of the property stock to bring it up to the standards of other international capitals such as Dubai and London, with residences offering top-of-the-range services and larger, more spacious flats. But there's also a trend in terms of the clientele, which is becoming younger and younger, and is settling in for the long term, offering an opportunity to boost the Monegasque economy.


You'll soon be able to read the full report on the Monegasque residential property market in 2023, in which we'll be presenting the results in detail, along with the figures, trends and outlook for the years ahead. In the meantime, don't hesitate to contact our teams for more information and advice on your property projects in the Principality of Monaco.